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Same problem here...says "binding failed". Sent in a question using your customer support system. I just bought the game a couple of hours ago, tried it (multiple times, worked around anti-virus and all of the possible problems I could think of after reading all I could find on it and got banned). Filed in 2 complaints (#120506-000209 and #120506-000233 though the last one contains all details needed for clearing things up, the first one was unfortunately not complete because of my mistake of not reading things through). I'm seriously thinking of returning it tomorrow and filing a complaint at my local "Customer Protection Agency" against the company that sold it to me (as my country's legislation protects my rights as a consumer).

Here is a post that tells you about binding failed and how to fix it -

pennygod says this -

Keys for this game can only be activated one time. After the initial activation, the key can never be used again. So, this problem is only caused by one of two things:

If you previously activated the key and are being asked to enter it again because you are reinstalling the game, you are simply at the wrong login screen. Please follow the instructions in the following FAQ for assistance with getting to the correct login screen, where you can enter your Uplay account name and password:

I'm afraid that does not help. The error I receive is "Binding failed! This key is incorrect." not "this key has been used already". I just bought the game yesterday afternoon. I didn't use it before as I entered the code right after unpacking the game and got this error. There are no multiple usernames and I followed every step.

P.S. I used a code written on the label of the cd in a xxxxxxxxx/xxxxxxxxx format. There was no square piece of paper in the box with another type of code. The code on the manual does not work either.

P.P.S. I consulted the FAQ and entered "Binding failed! This key is incorrect" in my search. I got this message "Message
Sorry - no matches. Please try some different terms". Also played around with the terms to no avail...

P.P.P.S. I would be quite keen on "hit'in a wildcat in the *** with a banjo" but unfortunately I got stuck tuning it.

If you received a copy of the game that does not have an insert that includes a serial/activation key that looks like SH5-XXXX-XXXX-XXXX-XXXX you can either take the game back to the retailer for a replacement or you can contact Ubisoft Support. http://support.ubi.com/

I sent an update request to your ticket. Update your ticket 120506-000233 with us. Unfortunately I do North American support, so Im "across the pond" from you, but ill press up and see if we can figure out whats going on.